East Asian Tigers Essay
Can one tame a tiger?
- The extensive growth of South East Asian Economies -
A tiger economy is a name given to a region or country which undergoes a heavy and fast economic growth. This usually also leads to rising living standards. This term was first applied to South Korea, Singapore, Hong Kong and Taiwan. Since the 1960's, these four countries are known as the East Asian Tigers. Later on more Tiger Economies emerged, but this essay will focus mainly on the first four. Even though the countries do not share their borders, together they can be considered as an economic region, for they share a lot of characteristic and they have gone to similar …show more content…
In these two graphs about the situation in Taiwan and Korea can be seen that while working hours per person per week were decreasing, wages were rising the last couple of decades. This made it necessary for the Tigers to outsource their low-skilled labour in order to maintain competitive.
Since the first signs of growth were shown to the world, round the mid-1960's, East Asian and other Third World countries have increasingly become important destinations for Foreign Direct Investment. This FDI has played a great role in the development of the countries. However, scholars argue that some